Janssen Biotech, one of the pharmaceutical companies of Johnson & Johnson, has signed an agreement with Legend Biotech USA and Legend Biotech Ireland, subsidiaries of Genscript Biotech Corporation, a Hong Kong-based investment holding company, to develop, manufacture, and commercialize a chimeric antigen receptor (CAR) T-cell drug candidate, LCAR-B38M, which specifically targets the B-cell maturation antigen.

LCAR-B38M is currently accepted for review by the China Food and Drug Administration (CFDA) and in the planning phase of clinical studies in the US for multiple myeloma.

Under the agreement, Legend will grant Janssen a worldwide license to jointly develop and commercialize LCAR-B38M in multiple myeloma with the Legend team of experts. Janssen will record worldwide net trade sales, except for sales made in Greater China. The companies have entered into a 50/50% cost-sharing/profit-split arrangement, except in Greater China, where Janssen and Legend have a 30/70% cost-sharing/profit-split arrangement. Janssen will make an upfront payment of $350 million that will be recorded in the fourth quarter 2017 and additional payments based upon the achievement of certain development, regulatory, and sales milestones.

Source: Johnson & Johnson